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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2013
Defined SERP
 
Net Periodic Benefit Cost

The following table presents the components of the SERP’s net periodic pension cost in the periods indicated:

 

     Year Ended December 31,  
(Amounts in thousands)    2013      2012      2011  

Service cost

   $ 135       $ 153       $ 161   

Interest cost

     246         203         224   

Amortization of losses (gains)

     49         45         —     

Amortization of prior service cost

     187         134         134   
  

 

 

    

 

 

    

 

 

 

Net periodic cost

   $ 617       $ 535       $ 519   
  

 

 

    

 

 

    

 

 

 
Projected Benefit Payments

The following schedule presents the projected benefit payments to be paid under the SERP, by year, as of December 31, 2013:

 

(Amounts in thousands)       

2014

   $ 246   

2015

     246   

2016

     246   

2017

     377   

2018

     377   

2019 through 2023

     2,171   
Directors Plan
 
Net Periodic Benefit Cost

The following table presents the components of the Directors’ Plan’s net periodic pension cost in the periods indicated:

 

     Year Ended December 31,  
(Amounts in thousands)    2013      2012      2011  

Service cost

   $ 26       $ 27       $ 29   

Interest cost

     41         39         43   

Amortization of gains (losses)

     1         —           —     

Amortization of prior service cost

     90         90         90   
  

 

 

    

 

 

    

 

 

 

Net periodic cost

   $ 158       $ 156       $ 162   
  

 

 

    

 

 

    

 

 

 
Projected Benefit Payments

The following schedule presents the projected benefit payments to be paid under the Directors’ Plan, by year, as of December 31, 2013:

 

(Amounts in thousands)       

2014

   $ 83   

2015

     81   

2016

     79   

2017

     109   

2018

     107   

2019 through 2023

     552